I. Who are qualified to avail?
Poultry and hog raisers who have existing contract with San Miguel Foods, Inc., Tyson, Foster, Danway, etc. operating in areas where Producers Bank is located are qualified to avail, subject to applicable terms and conditions of the Bank. Business must be stable and profitable for the last two (2) years. The applicant must have acceptable/adequate collateral.
II. Amount of Loan
P1,000,000.00 and up depending on the capitalization requirements and cash flow of the project. Larger amount of loan may be accommodated depending on the requirements of the business.
III. Interest Rate & Service Charge
At very competitive interest rate.
IV. Purpose of Loan
For working capital, acquisition of equipment and construction of poultry/piggery building.
V. Repayment
a. For credit line - One (1) year via 180 days PN
b. For term loan - Amortized (P+I) up to five (5) years
VI. Collateral
The loan shall be adequately secured on a 2:1 ratio by Real Estate Mortgage (REM).
VII. Other Terms & Conditions
a. Borrower shall maintain a savings deposit account with Producers Bank of at least 5% of the amount availed.
b. Borrower will buy mortgage redemption insurance and assign the same in favor of Producers Bank.
VIII. Requirements
a. Business permit & DTI Registration
b. TCT/fully paid EP/OCT
c. Audited FS and ITR (comparative for at least two years)
d. Tax Declaration with tax receipt for current year and tax clearance
e. Location plan with vicinity map
f. Barangay and Court Clearances
g. Bank Statements from other banks
h. CTC of borrower
i. ECC (Environmental Compliance Certificate)
j. CASA deposit with Producers Bank
For more information regarding this type of loan, you may visit the nearest Producers Bank branch or browse to the Contact Page and fill out the contact form to send us a message.
